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GST Second Year: 3 Issues Modi Govt Need to Fix Now
June 22, 2018
As the game-changer GST regime nears its 1-year anniversary, experts believe that the majority of concerning issues have been resolved. However, the union government must address the top 3 next-level issues which are as follows:
- Simplification of tax slabs. Due to multiple tax rates (12%, 18%, etc.), there are certain products/services for which the correct rate is difficult to decide as the rules give ample room for interpretation.
- Compliance remains to be a big issue for traders across the country. Aspects like invoice uploading, the filing of ITR are still complicated.
- A dedicated judiciary must be set up for handling GST-related issues. Although there is already Authority of Advance Rulings (AAR), it isn’t fit for GST.
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